Savings & Investment Plan (SIP)
Before-Tax Contribution Limits - 2008
November 26, 2007
For 2008, most Savings and Investment Plan participants will be limited to
before-tax contributions of no more than $15,500 (no change from 2007).
If your before-tax contributions during 2008 reach this dollar limit of $15,500, any
future contributions will be deducted from your pay on an after-tax basis or
returned to you in your paycheck, per your election.
For 2008, there is an additional before-tax contribution of $5,000 (no change
from 2007) available to participants who are age 50 or over by December 31,
2008. If you are eligible for this additional before-tax contribution, you must
make a contribution election of a specific dollar amount per pay period by either
calling 1-800-360-2747 or by logging onto Your Benefits Resources Web site at
For catch-up contribution elections to be effective for the first payroll in 2008,
weekly paid employees must make their elections between 12:01 AM ET on
December 18 and 12 AM ET on December 24, 2007. Monthly paid employees
must make their elections between 12:01 AM ET on December 10, 2007 and 12
AM ET on January 20, 2008.
Additional details on IRC-imposed limits on contributions to the WSRC/BSRI
Savings and Investment Plan can be found in the Savings and Investment Plan
Summary Plan Description.